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Segment Reporting | 6 Months Ended
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Dec. 01, 2018
Segment Reporting [Abstract] |
Segment Reporting | 11. SEGMENT REPORTING In accordance with ASC 280-10, Segment Reporting, we have identified three operating and reportable segments as follows: Power and Microwave Technologies Group (“PMT”) combines our core engineered solutions, power grid and microwave tube business with new RF and power technologies. As a manufacturer and authorized distributor, PMT’s strategy is to provide specialized technical expertise and engineered solutions based on our core engineering and manufacturing capabilities. We provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair—all through our existing global infrastructure. PMT’s focus is on products for power, RF and microwave applications for customers in alternative energy, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. PMT focuses on various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, high energy transfer, high voltage switching, plasma, power conversion, radar and radiation oncology. PMT also offers its customers technical services for both microwave and industrial equipment. Canvys provides customized display solutions serving the corporate enterprise, financial, healthcare, industrial and medical original equipment manufacturers markets. Our engineers design, manufacture, source and support a full spectrum of solutions to match the needs of our customers. We offer long term availability and proven custom display solutions that include touch screens, protective panels, custom enclosures, all-in-ones, specialized cabinet finishes and application specific software packages and certification services. We partner with both private label manufacturing companies and leading branded hardware vendors to offer the highest quality display and touch solutions and customized computing platforms. Healthcare manufactures, refurbishes and distributes high value replacement parts for the healthcare market including hospitals, medical centers, asset management companies, independent service organizations and multi-vendor service providers. Products include Diagnostic Imaging replacement parts for CT and MRI systems; replacement CT and MRI tubes; CT service training; MRI coils, cold heads and RF amplifiers; hydrogen thyratrons, klystrons, magnetrons; flat panel detector upgrades; and additional replacement solutions currently under development for the diagnostic imaging service market. Through a combination of newly developed products and partnerships, service offerings and training programs, we believe we can help our customers improve efficiency and deliver better clinical outcomes while lowering the cost of healthcare delivery. The CEO evaluates performance and allocates resources primarily based on the gross profit of each segment. Operating results by segment are summarized in the following table (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 1, 2018 |  |  | December 2, 2017 |  |  | December 1, 2018 |  |  | December 2, 2017 |
PMT |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  | $ | 32,328 |  |  | $ | 30,063 |  |  | $ | 67,097 |  |  | $ | 59,187 |
Gross Profit |  |  | 10,107 |  |  |  | 10,262 |  |  |  | 21,114 |  |  |  | 19,836 |
Canvys |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  | $ | 6,498 |  |  | $ | 6,707 |  |  | $ | 13,671 |  |  | $ | 12,472 |
Gross Profit |  |  | 2,132 |  |  |  | 2,128 |  |  |  | 4,445 |  |  |  | 3,674 |
Healthcare |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  | $ | 2,488 |  |  | $ | 2,312 |  |  | $ | 4,703 |  |  | $ | 4,418 |
Gross Profit |  |  | 732 |  |  |  | 984 |  |  |  | 1,365 |  |  |  | 2,012 |
Geographic net sales information is primarily grouped by customer destination into five areas: North America; Asia/Pacific; Europe; Latin America; and Other. Net sales and gross profit by geographic region are summarized in the following table (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 1, 2018 |  |  | December 2, 2017 |  |  | December 1, 2018 |  |  | December 2, 2017 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 16,825 |  |  | $ | 15,846 |  |  | $ | 33,848 |  |  | $ | 30,909 |
Asia/Pacific |  |  | 8,520 |  |  |  | 7,457 |  |  |  | 18,062 |  |  |  | 14,467 |
Europe |  |  | 13,393 |  |  |  | 13,615 |  |  |  | 28,149 |  |  |  | 26,115 |
Latin America |  |  | 2,559 |  |  |  | 2,141 |  |  |  | 5,373 |  |  |  | 4,560 |
Other (1) |  |  | 17 |  |  |  | 23 |  |  |  | 39 |  |  |  | 26 |
Total |  | $ | 41,314 |  |  | $ | 39,082 |  |  | $ | 85,471 |  |  | $ | 76,077 |
Gross Profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 6,518 |  |  | $ | 6,186 |  |  | $ | 13,105 |  |  | $ | 11,792 |
Asia/Pacific |  |  | 2,701 |  |  |  | 2,545 |  |  |  | 5,706 |  |  |  | 4,925 |
Europe |  |  | 4,215 |  |  |  | 4,484 |  |  |  | 8,738 |  |  |  | 8,589 |
Latin America |  |  | 955 |  |  |  | 854 |  |  |  | 2,021 |  |  |  | 1,818 |
Other (1) |  |  | (1,418 | ) |  |  | (695 | ) |  |  | (2,646 | ) |  |  | (1,602 | )
Total |  | $ | 12,971 |  |  | $ | 13,374 |  |  | $ | 26,924 |  |  | $ | 25,522 |
(1) | Other includes primarily net sales not allocated to a specific geographical region, unabsorbed value-add costs and other unallocated expenses.
We sell our products to customers in diversified industries and perform periodic credit evaluations of our customers’ financial condition. Terms are generally on open account, payable net 30 days in North America, and vary throughout Asia/Pacific, Europe and Latin America. Estimates of credit losses are recorded in the financial statements based on monthly reviews of outstanding accounts.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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